The Brookhaven leader., 1887-05-05
Charter OF Incorporation OF
the keystone Lumber and
IHtDrOCenl ent CO7llDdnY.
Nov. 23 I'm.


SECTION l. Geo. S. Lacey, Butler Nc
Clanhan, Geo. b. Levy, X. ). Cottingen
NJ. +. Osborn and Anthony Janetto and
all other persons who may hereafter be-
come associated with them and their sue
cessOrs and assigns, are hereby created u
body polite and corporate under the
name and style of the Keystone Lum her
and Improvement Company; and by that
name shall have perpetual Succession for
the purpose of manufacturing lumber
and converting lumber INFO any and all
articles of merchandise, and for buying,
owning and holding such real and person
III property AS may be necessary III con-
ncctlon with or advantageous TO, the OBJ
jects and purposes of this charter; aud
may sue and be sued, plead and be i'm
pleaded in all courts of law and equity,
and may have and use a corporate seal
with the right to change the same ut
pleasure.
Sec. 2. The capital stock of sad com
pany shall be one hundred thnusand dol
lars, bnt the same may be increased by "a
majority vote of the stock holders To u
sum not to exceed two hundred thousand
dollars. This capital stock shall be di-
vidcd into shares of Que hundred dollars
each and each shall cntitle the owner
thereof to one vote at all meetings Of the
stockholders. A majority of the entire
stock issued shall constitute quorum for
the transaction of business.
No stakeholder shall lie liable individu-
ally for any debt or liability of said cor
roration beyond the amount remaining
unpaid on stock subscribed or purchased
by him; and payment to said corporation
or to any person under judicial process,
of the full amount at par of the stock
subscribed or purchased, shall exempt
such stUckholdcr from all debts and lia-
bilities of said ccmnauy.
Sec. 3. AS soon as twenty-five thou
sand dollars shall have been subscribed to
the capital stock of the company, the
stockholders may organize and begin the
proposed business. The principal office
of SAID company shall be in or near the
town of Bogue Chitto, with Such branch
offices TO be located vi hen and where said
company may deem convenient.
Sec. 4. SAID company shall have power to in
augurate AMI carry on at or near the sall town
of BoRue ChttO business for the Manufacture
of lunDer INTO any and all articles OF mer-
clsndse into which the same is conyertIb e,and
bavA the power To purchase acquire and hold
without limit all kinds OF property, whether
real, personal or mixed. and Aay sell, mort
gage, enCu mber or otherwise transfer the same
at VIII, and generally do all things mat may be
beneficial, or advantageous To tile Interests OF
said company. 1t may also make AMI execute
notes, drafts and bills of exchange aud may re-
ceve aud dispose of the same III the course OF
It's business. 1t may take deeds III trust, mort
cages. evidences of DEBT aud ali manner Of Sc
curty for money due said company, anu may
buv or dispose of real or personal property
whenever 1t is to the interest OF said company
TO do so.
Sec. .. Said company shall have the power to
erect, wherever convene nt, buildings, saw
mills, planning mills and such machinery as the
proposed business may require, To construct
and operate ways or roads of iron, wood or steel
over which to carry and transport by the power
of stealn animals or mechanical cOntrlvanCeS
any aud all property for the convenience anu
benefit OF said business.
Sec. s. The Officers of said company shall
comprise a President, VIcePresiuent Secreta-
~ and Treasurer " hose terms of ONCE Shall be
one year from the DAY of their election; but they
shall continue IN Ofce until their successors are
elected and have qualified. The stockholders.
however, have the power to remove any officer
for good ca Sc, befOrethe expiration of his
term, and they may, If they so wish, elect one
person to NIL two offices. Thu salary If the
officers shall be fixed by the stOckhOdersand
may be Increased or reduced at pleasure
Sec. I. The President, Weep eSldent and
secretary shall constitute board of directors
with power TO regulate and control the business
of the company, out only for the time they mold
their respective offices. The slOCkhOidPrs may,
however, ia they SO desire, establish d Board OF
d .rectors TO be composed of three such members
as they may select IN lieu of the board compos-
ed of said officers. The board OF directors and
ers and chaI ged with all such duties as NATURAL
~ and niece ssarlly pertain To the managing aud
directing of the business affairs OF The conpA-
nv and shall have DoWer to enact and adopt Sucn
by-laws rules and regulations regarding the
conducting and controlling OF said business as
may be required; aud may alter and amend the
same at pleasure; Provided, n. bylaw. rule or
regulation shall be in conflict with the Constitu-
ton and laws OF the United States and the state
of Mississippi.
said 0GI IN N drafts.
ex :hange, notes, deeds in trust, mortgages and
COnveyances, to preside at all meetings OF the
stockholders and board Of directors anu to call
special meetings OF these bodies when advised
| Of the necessity OF the same.
Sec. 3. In the event Of the absence, re sigma
ton or removal of the President the Vice
President shall assume and discharge the duties
! OF the former also The duties hereinafter named.
| Sec. 10. The Secretary shall conduct ali cor
| respondence. keep record OF the proceedings
| of the stockholders and board Oh directors anu
/ perform such duties as the stockholders or
1 board of directors at thor meetings may order.
| Sec. IL. The Treasurer shall be the custodian
I of all moneys or evidences of debt belonging TO
/ said company, receiving and discussing tae
same subject to the Will OF tue board OF diree-
/ tors.
See. IL. The Vice President shall he ex-oillclc
General Manager of the company. The duties
/ of the General Manager or HIS successor shall he
| to operate the NIL is and machinery, superlnLend
| the pracLlcal workings of the entIrs business
! make all purchases required Their, for, sell the
/ manufactured products, keSp all accounts, cor
! iespondence and records apper tanning to the a.
fairs of his office, aud perform such other dn
ties as the board may at any time order. liz
term Of ONCE, his salary aud his work shall be
subject to the rules of the board OF directors u
whom he shall be directly respoB Ioe for TAI
account of his serv ices.
/ Sec. Is. Any vacancy that may occur by death
! resignation or removal of any officer or membel
| Of the board of directors, may be filled by salt
hoard until the next meeting OF the stockhold
. erS.
j sec. IL The stockholders aud board az dlrcc
tors may each determine the time TOR their res
ular meeting. special meetings may be Gale,
. whenever the President - adylsed OF the acces
SHY Of the same. mStorlty ot the board shal
he a quorum ter the transaction OF business.
Sec. Is. Dividends shall be declared by hi
board OF directors at the end OF the year or a
I such OF her tine a. TIE stockholders in meetIul